Gilbert Real Estate Housing Market Update - November 2020
Gilbert home sales are way higher than in November of last year, up 18.9%. I believe this may have something to do with the COVID-19 pandemic extending the summer home sales season into the fall, and the continued high demand for homes in the Phoenix Metropolitan area. The number of new listings increased 8.5% from November of last year, which can only help with the lack of Gilbert homes for sale. The number of active listings still remains significantly lower than November of last year, at -29.2%.
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 16.3% since November of 2019. With interest rates remaining around 3.0%, there still should be more buyers looking to purchase heading into the winter, which is typically not the case for this time of year.
For more detailed stats on the Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.